OMVIC FINAL EXAM 2 2025/2026 | ACTUAL COMPREHENSIVE
REAL EXAM QUESTIONS AND VERIFIED SOLUTIONS/GET IT
100% ACCURATE!! ALREADY GRADED A+ | NEWEST EXAM |
JUST RELEASED!! STUDY GUIDE EXAM
What is a curbsider? - ANSWER-They are unlicensed dealers
posing as private
sellers
What are the common problems with the vehicles that
curbsiders sell? - ANSWER-Often misinterpreted, accident-
damaged, odometer-tampered, stolen or have liens
Studies have shown the percentage of "private" vehicle ads are
actually placed
by curbsiders is -
ANSWER-25%
Curbsiders : - ANSWER-ignore tax law, avoid overhead,
have an unfair
advantage over registered
dealers
Is the compensation fund available to all customers or only
customers who are
,consumers? - ANSWER-
consumers only
How much does each salesperson pay into the fund? -
ANSWER-Nothing
How much does each dealer pay into the fund? - ANSWER-$300
If a person has been refused registration, what are 2 conditions
that have to be
met before the person can reapply? - ANSWER-2 years have
passed; new
evidence to demonstrate
circumstances
If OMVIC issues a proposal to refuse registration, to whom can
the applicant appeal? - ANSWER-LAT (license appeal tribunal ),
Independent judicial body called LAT, within 15 days of
receiving the proposal
List the 4 classes of dealers - ANSWER-General dealer,
Broker, Exporter,
Wholesaler, Lease
finance dealer
List 3 examples of individuals or businesses that are
exempt from registration -
ANSWER-Wholesale auction,
wrecker, lawyer
, Where is the certificate of the dealer registration kept? -
ANSWER-Where the
public can
see it
T or F: the max individual claim from the fund is $15 000 -
ANSWER-False
T or F: The fund is similar to an insurance policy, so a dealer
does not have to
reimburse the Fund should the Fund pay out a claim on
behalf of a dealer -
ANSWER-
False
T or F: Protections under the CPA would apply to a carpenter
buying a van for
his or her small company -
ANSWER-False
T or F: CPA protects "consumers" only - ANSWER-True
T or F: The CPA covers sales but not leases, and not services
such as repairs -
ANSWER-
False
T or F: the consumer can waive their right under the CPA, but
they must be in
REAL EXAM QUESTIONS AND VERIFIED SOLUTIONS/GET IT
100% ACCURATE!! ALREADY GRADED A+ | NEWEST EXAM |
JUST RELEASED!! STUDY GUIDE EXAM
What is a curbsider? - ANSWER-They are unlicensed dealers
posing as private
sellers
What are the common problems with the vehicles that
curbsiders sell? - ANSWER-Often misinterpreted, accident-
damaged, odometer-tampered, stolen or have liens
Studies have shown the percentage of "private" vehicle ads are
actually placed
by curbsiders is -
ANSWER-25%
Curbsiders : - ANSWER-ignore tax law, avoid overhead,
have an unfair
advantage over registered
dealers
Is the compensation fund available to all customers or only
customers who are
,consumers? - ANSWER-
consumers only
How much does each salesperson pay into the fund? -
ANSWER-Nothing
How much does each dealer pay into the fund? - ANSWER-$300
If a person has been refused registration, what are 2 conditions
that have to be
met before the person can reapply? - ANSWER-2 years have
passed; new
evidence to demonstrate
circumstances
If OMVIC issues a proposal to refuse registration, to whom can
the applicant appeal? - ANSWER-LAT (license appeal tribunal ),
Independent judicial body called LAT, within 15 days of
receiving the proposal
List the 4 classes of dealers - ANSWER-General dealer,
Broker, Exporter,
Wholesaler, Lease
finance dealer
List 3 examples of individuals or businesses that are
exempt from registration -
ANSWER-Wholesale auction,
wrecker, lawyer
, Where is the certificate of the dealer registration kept? -
ANSWER-Where the
public can
see it
T or F: the max individual claim from the fund is $15 000 -
ANSWER-False
T or F: The fund is similar to an insurance policy, so a dealer
does not have to
reimburse the Fund should the Fund pay out a claim on
behalf of a dealer -
ANSWER-
False
T or F: Protections under the CPA would apply to a carpenter
buying a van for
his or her small company -
ANSWER-False
T or F: CPA protects "consumers" only - ANSWER-True
T or F: The CPA covers sales but not leases, and not services
such as repairs -
ANSWER-
False
T or F: the consumer can waive their right under the CPA, but
they must be in
